港股春节前投不投、怎么投？机构：定价逻辑有变，重点布局三大方向

Group 1 - The core viewpoint of the article emphasizes the decision-making dilemma for investors in the Hong Kong stock market regarding whether to hold stocks or cash as the market approaches the Chinese New Year holiday, with a prevailing sentiment leaning towards holding stocks due to the noticeable "calendar effect" before the holiday [1][2]. Group 2 - The "calendar effect" in the Hong Kong stock market is similar to that of the A-share market, with historical data indicating an 82% probability of the Hang Seng Index rising in the last three trading days before the holiday. However, the probability of an increase in the month following the holiday drops to about 60% [2][3]. - A review of the past decade shows that the probability of the Hang Seng Index, Hang Seng Tech Index, and Hang Seng China Enterprises Index rising in the week before the holiday is 70%, 90%, and 70% respectively, while the probabilities for the week after are 60%, 70%, and 70% respectively, indicating a decline post-holiday [3]. - Changes in pricing logic for the Hong Kong market are noted, with a significant decrease in correlation with the US market and a stronger correlation with the A-share market, suggesting that if the A-share market experiences a strong rally, the Hong Kong market may follow suit [3]. Group 3 - The AI industry chain and other technology sectors are highlighted as areas of focus for brokers, with the Hang Seng Tech Index recently breaking through its annual line, indicating a release of emotional suppression. This could lead to a recovery in market sentiment and capital inflow [4]. - The research suggests that the valuation attractiveness of the Hong Kong market has increased after recent adjustments, with expectations of a fluctuating upward trend around the Chinese New Year. Key sectors to watch include consumer, precious metals, energy, and technology, particularly those benefiting from AI advancements [5].